German medical device company JenaValve Technology has raised $62.5m in a Series C venture round led by Belgium-based publicly traded investment firm Gimv, alongside new investors including Beijing-based Legend Capital and healthcare-focused Omega Funds.
Edmond de Rothschild Investment Partners led the participation by the existing investor group alongside Atlas Venture Fund, NeoMed Management, VI Partners and Sunstone Capital.
The company develops, manufactures and markets transcatheter aortic valve implantation systems for the treatment of aortic valve disease.
In addition to funding clinical trials and expansion of commercial infrastructure, the company also announced that it plans to pursue clinical initiatives in the US as well as pursue regulatory approval for its product in China.
Gimv partner Patrick Van Beneden said, “Transcatheter valve implantation is a proven and dynamic market worldwide and JenaValve is delivering a series of compelling new TAVI products that provide benefits over older generations of the technology. We are pleased with the opportunity to contribute as a partner in this endeavor.”
Legend Capital managing director Ouyang Xiangyu added, “Our fund has begun to put more emphasis on investments in global life science companies that have a clear China strategy. JenaValve is an excellent fit with our strategy to invest in emerging companies in a fast growing segment, backed by solid clinical evidence with a desire to tap into an unmet need for a large subset of patients in China.”
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